Madame Tussauds Hollywood says it is already working on a new Ronald Reagan wax figure to mark the late U.S. President's 100th birthday next February.

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"To commemorate the occasion, Madame Tussauds Hollywood, which rarely announces such plans so far in advance, acknowledged today that it will honor the late 40th President of the United States with a special commemorative figure, created at a cost of over $300,000 and crafted over a 5-month period," the museum said in a news release Thursday.

"Scheduled to go on display Oct. 1, the Ronald Reagan figure will be on exhibit for six months only. After much internal debate, Madame Tussauds Hollywood has revealed that the Reagan figure will be dressed in a cowboy motif, reflecting the late president's love of ranching, riding and the American west."

Reagan was a successful radio announcer turned Hollywood actor, who appeared in 52 films and served as president of the Screen Actors Guild prior to running for public office. He was later elected to two terms as governor of California and in 1981 was sworn in as the 40th president of the United States. He served the office until 1989 and died in 2004 at the age of 93.

"As a movie star, rancher, governor and president, I can't think of another American figure more closely associated with the history and culture of California than Ronald Reagan," Adrian Jones, general manager of Madame Tussauds Hollywood, said in a statement.